Mukand moves up on executing term loan agreement for availing unsecured term loan

28 Sep 2020 Evaluate

Mukand is currently trading at Rs. 44.20, up by 2.10 points or 4.99% from its previous closing of Rs. 42.10 on the BSE.

The scrip opened at Rs. 44.20 and has touched a high and low of Rs. 44.20 and Rs. 44.20 respectively. So far 225 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 51.50 on 21-Sep-2020 and a 52 week low of Rs. 12.00 on 25-Mar-2020.

Last one week high and low of the scrip stood at Rs. 51.50 and Rs. 40.10 respectively. The current market cap of the company is Rs. 625.01 crore.

The promoters holding in the company stood at 74.35%, while Institutions and Non-Institutions held 3.79% and 21.86% respectively.

Mukand has executed a Term Loan Agreement with a Bank on September 26, 2020 for availing a promoter backed unsecured term loan at competitive rate of interest, initially for an amount of Rs 650 crore and an additional loan amount of Rs 350 crore, subject to approval of the shareholders of the company for increase in borrowing powers of the company, thereby aggregating to Rs 1,000 crore.

The tenure of the loan is for 2 years and the disbursement of the term loan is subject to fulfilment of certain conditions. The aforesaid loan will be utilised for refinancing existing high cost borrowings of the company which should result significant saving of interest costs.

Mukand is a multi-division, multi-product conglomerate involved in the manufacture of specialty steel long products and heavy machinery.

 

Mukand Share Price

148.20 2.55 (1.75%)
28-Mar-2024 16:01 View Price Chart
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